FIFA working on “Football Marshall Plan” to Deal with Financial Impact of Coronavirus

FIFA working on “Football Marshall Plan” to Deal with Financial Impact of Coronavirus

FIFA are performing on the small print of a “Football Marshall plan” to affect the financial fall-out from the coronavirus pandemic, which can almost certainly end in them dipping into their $2.7 billion reserves.

A spokesperson for FIFA told News Agency that they were aware of “serious financial problems on account of the coronavirus outbreak.”

“This threatens to disrupt and impair the power of FIFA’s member associations and other football organizations like leagues and clubs to develop, finance and run football activities in the least levels of the sport , including professional, non-professional, youth and grassroots.

“It is foreseen that in many parts of the planet a substantial number of persons involved in football including both men and ladies players are going to be left in extremely difficult economic conditions.”

Gianni Infantino, President of FIFA. Image Source: AFP

The spokesperson added that due to FIFA’s strong financial situation, the body has a duty to help those in need. The exact format and details of this assistance have yet to be decided but in the week will see further consultations with FIFA’s member associations, the continental confederations and other stakeholders.

The spokesperson said that while variety of issues about the way to distribute resources and implement on the plan remain to be resolved, they aim to possess a scheme “agreed and announced in the near future.”

FIFA president Gianni Infantino’s 2016 election campaign included plans to distribute the organization’s resources. At the time he declared: “The money of FIFA is your money, it’s not the cash of the FIFA president.”

Most domestic and international football competitions round the world are suspended thanks to the pandemic and continental team tournaments like Euro 2020 and therefore the Copa America are postponed.

Tags : coronavirus diseaseCOVID-19FIFAfootballSoccorsports

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